Key trends in this Data Insight include: Aggregate operational, under construction, and under development renewable power capacity acquired in 2011 reached 12.1 GW, up slightly from 2010 but still down nearly 40% from 2008 and 2009 levels. Renewable M&A activity in 2011 underscores a continuing shift toward 'under construction' and late-stage development assets, reflecting policy uncertainty and challenging near-term market conditions. Large utilities and IPPs led M&A activity in North America in 2011, with MidAmerican at the forefront, acquiring the rights to 692 MW of late-stage solar projects in the US Southwest. Solar is capturing a greater share of the renewable power capacity changing hands, benefiting from a more certain near-term policy landscape. Late-stage wind projects will dominate M&A deal flow in early 2012, as smaller developers facing constrained capital markets are motivated to find larger buyers able to advance projects before the PTC expires.
Key trends in this Data Insight include: